Tour operators were flying high Friday, building on momentum seen in the previous session after easyJet posted impressive first-quarter results. EasyJet shares are trading at the highest level since the company floated in 2000.

Analysts at UBS raised their recommendation on easyJet to “buy” from “neutral” as they said revenues came in stronger than expected at £833 million against its forecast of £815 million.

Still, “the company did benefit from a mild 1Q winter impact so it is to be seen whether the benefit will continue on the cost front,” they added.

JPMorgan Cazenove upgraded International Consolidated Airlines Group to “overweight” from “neutral”.

Its analysts said:

“We see the decision by Iberia unions to negotiate the details of the restructuring plan with no change to its overall targets as lowering the short-term risk of turbulence surrounding its implementation.

“We believe IAG shares will outperform once Iberia reaches agreement with unions (or implements unilateral cuts), and see the recent underperformance as a good entry point for investors.”